O'Keefe, who has helmed more than 2000 episodes of the show since 2003, said Seven was now throwing its energies behind Million Dollar Minute to provide the lead-in audience for the network's flagship news program, Seven News.

O'Keefe also implied the Deal Or No Deal format had run its course and was becoming tired.

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“We are not even thinking about Deal at the moment,” he said. “The simple fact of the matter is that it is a guessing game and we had people playing the same guessing game for 10 years and, after a while, everyone understands that it is simply that."

Approached for comment about Deal's fate, Seven said the show had not been axed, but confirmed there were no current plans to produce new episodes.

“Deal or No Deal is currently in the schedule," a network spokesman said.

"However the production unit for that show is currently working on Million Dollar Minute, and in the same studio, and that's going to be the situation for the foreseeable future.”